Platform Prices Public Offering At $26.50 A Share

(RTTNews) - Platform Specialty Products Corp (PAH), a producer of high-technology specialty chemicals, on Wednesday priced an underwritten public offering of about 15.85 million common shares at $26.50 per share, for gross proceeds of about $420 million.

Platform said it has granted to the underwriters a 30-day option to purchase an additional about 2.38 million shares.

The offering is expected to close on or about June 29.

Platform said it plans to use the net proceeds from the offering to fund working capital and future acquisitions including, if consummated, a portion of the consideration and related fees payable in connection with its acquisition of the Electronic Chemicals and Photomasks businesses of OM Group Inc.

If completed, the OMG Acquisition is expected to close in two parts, with the first closing expected to occur during the third quarter of 2015 and the second closing expected to occur during first quarter of 2016, Platform said.